|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||25.47 - 25.70|
|52 Week Range||21.55 - 27.74|
|Beta (3Y Monthly)||0.72|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.74 (2.86%)|
|1y Target Est||24.18|
U.S. Vice President Mike Pence rebuked European powers over Iran and Venezuela on Saturday in a renewed attack on Washington's traditional allies, rejecting a call by Germany's chancellor to include Russia in global cooperation efforts. In speeches and in private talks at the Munich Security Conference, Pence and Chancellor Angela Merkel laid out competing visions for how the West should address world crises.
German cars do not pose a security threat to the United States, Chancellor Angela Merkel said on Saturday as she appealed for global cooperation on a range of issues from dealing with Iran to preventing another migrant crisis. "We are proud of our cars and so we should be," Merkel said, adding, however, that many were built in the United States and exported to China. "If that is viewed as a security threat to the United States, then we are shocked," she told the Munich Security Conference to applause from the audience.
Germany's government welcomes the compromise the European Union has reached on a gas directive setting the legal framework for Russia's Nord Stream 2 gas pipeline, a government spokeswoman said on Wednesday. A spokesman for the economy ministry added it was a "substantial aspect" that the gas supplier and the operator of the pipeline must not be identical. Representatives of the European Commission, the European Parliament and of the 28 member states on Wednesday reached a provisional deal on new rules governing import gas pipelines which should lead to a new law in the coming months.
European Union nations backed a plan to regulate Russia's Nord Stream 2 pipeline on Friday, a move that will likely slow but not rule out its construction. The long-stalled agreement comes after a last-ditch German and French push to amend the draft and give Berlin a greater say in how to ensure the pipeline to carry Russian gas to Europe under the Baltic Sea complies with EU law. Chancellor Angela Merkel hailed the vote as an example of Berlin's close ties with Paris after the two major European powers, which both have firms invested in the project, were publicly at odds ahead of the EU meeting.
German power and gas grid firms Amprion and Open Grid Europe (OGE) said on Monday they would shortly apply to build the country's first large hydrogen plant that can convert windpower to alternative fuels that are easier to store and transport. The 100 megawatt (MW) power-to-gas (ptg) plant to be called "hybridge" can start operations from 2023 at Lingen in Germany's windy north-west, the firms said in statements presented at a Berlin news conference. Grid companies had already been looking to cope with separate government targets, set a year ago, to nearly double the share of wind and solar power to 65 percent of electricity generation by 2030.
BERLIN (Reuters) - The European Union agreement on how to regulate Russia's Nord Stream 2 gas pipeline is a reasonable solution for an important issue, German Economy Minister Peter Altmaier said on Friday. ...
BERLIN (Reuters) - Germany and France are in constant contact on Russia's Nord Stream 2, a German government spokesman said on Friday after France said it would back an EU proposal to regulate the gas ...
PARIS/BERLIN (Reuters) - France plans to back an EU proposal to regulate Russia's Nord Stream 2 pipeline, its foreign ministry said on Thursday, potentially threatening its completion and dealing a blow to Germany which has been trying to garner support for the project. The European Union executive wants to extend its internal energy market laws to offshore gas pipelines before construction is completed, giving it a say over how the new gas link under the Baltic Sea from Russia to Germany is used. In its current form, Nord Stream 2, fully owned by Russian state energy firm Gazprom, would not be compliant with tougher new rules foreseen for new infrastructure projects.
German utility Uniper said on Wednesday there were no taboos in the fresh talks it will hold with its largest owner Fortum, breaking a long-standing deadlock between the two and potentially paving the way for a full take over. Fortum - majority owned by Finland - has a 49.99 percent stake in Uniper. Activist investors Elliott and Knight Vinke have disclosed stakes of 17.84 percent and 5.02 percent, respectively.
FRANKFURT/DUESSELDORF (Reuters) - Uniper said on Wednesday nothing was off limits in fresh talks with Finland's Fortum, its top shareholder, renewing investor hopes for a full takeover of the 9.7 billion euro ($11.1 billion) German energy group. The comments seem to break a deadlock between the two groups ever since Fortum bought a 47 percent stake in Uniper from E.ON last year in a deal that included a full takeover bid and was seen as hostile by Uniper's management. Fortum last week said it had raised its stake to 49.99 percent, the maximum it is allowed to own after Russian authorities capped its ownership of Uniper at 50 percent due to a water license its Russian unit Unipro holds.
FRANKFURT (Reuters) - Activist fund Elliott will likely raise further its stake in German energy group Uniper, a person familiar with the matter told Reuters on Wednesday. Elliott was not immediately available ...
FRANKFURT/DUESSELDORF (Reuters) - Uniper on Tuesday said it would start fresh talks with its biggest shareholder, Finland's Fortum, about future cooperation, renewing investor hopes that there could be a full takeover of the German energy group. The companies have been at odds over how to define their relationship following Fortum's acquisition of a 47 percent stake in Uniper from E.ON last year, a deal that Uniper's management opposed. Uniper said Chief Executive Klaus Schaefer and Chief Financial Officer Christopher Delbrueck, who had been vocal in their opposition to Fortum's approaches, would be stepping aside as of Aug. 31 to facilitate talks.
The warmer-than-usual temperatures for most of the heating season so far, along with concern about climate change, is scrambling the fortunes of utilities across the region and rippling through natural gas and power markets. Most of the markets servicing utilities and their clients opened the year on a bearish note. “Gas storage facilities are still at levels above the five-year average, and supply is stable with Russia deliveries also at high levels,” Harald Herzig, head of front office at Mainova AG, a utility in Frankfurt.
The actual size of the loss will depend on how Germany interprets new European Commission rules governing the market from 2021 and the nation’s willingness to shore up a trading system that’s only just starting to make a real impact on emissions. While Germany has said it will cancel allowances to protect the carbon market, it hasn’t provided any details. Since the nation almost a week ago flagged some of its draft plans for closing coal plants through 2038, carbon permits are headed for their worst week since September -- as traders anticipate lower demand in the future.
German Chancellor Angela Merkel signalled her readiness on Thursday to implement costly proposals tabled by a government-appointed commission to facilitate the phasing out of coal-fired power, but key questions about money and priorities remain. The commission proposed the shutdown of all Germany's coal power stations by 2038 at the latest, recommending that at least 40 billion euros ($46 billion) in aid be provided for affected regions, with further payments to cushion the potential burden of rising energy prices for companies and consumers. Speaking after a meeting with state premiers, Merkel said that the federal government would handle the commission's proposals "very carefully", adding that the phase-out of coal-fired power plants was a task for society as a whole.
No extra money will be allocated by Germany to help with the phasing out of coal-fired power, Finance Minister Olaf Scholz said on Thursday, complicating efforts by Europe's largest economy to achieve ambitious climate protection goals. A government-appointed commission proposed the shutdown of all Germany's coal power stations by 2038 at the latest, recommending that at least 40 billion euros ($45.8 billion) in aid be provided for affected regions, with further payments to cushion the potential burden of rising energy prices for companies and consumers. Scholz told Handelsblatt business daily that the proposed 2 billion euros of annual aid until 2040 was a "plausible assumption" but other ministries must manage the coal shift with money from existing budgets.
The mining and energy branch of France's CGT trade union has called for a 24 hour strike to demand higher salaries and pensions, the union said on Thursday. The CGT said it was pushing to align its protest with the grassroots "yellow vests" protest over the cost of living, which has roiled France since the end of last year with weekly violent clashes in various cities between police and demonstrators. "On Feb. 5, FNME CGT is calling on all workers to go on strike for 24 hours," it said.
Municipal shareholders in RWE have called on Germany's biggest power producer to drive a hard bargain in talks with the government over compensation for a planned phase-out of coal-fired power plants. A government-appointed commission has proposed Germany shut down all of its coal power stations by 2038 at the latest, recommending at least 40 billion euros (35 billion pounds) in aid to the regions affected. "From the municipalities' point of view, the decisions can only be absorbed financially if there is adequate compensation," said Ernst Gerlach, head of VkA, which represents RWE's municipal shareholders.
The price effect of Germany's roadmap for an exit from coal mining and burning by 2038 is likely to be limited because the extent of coal plant closures was largely expected, traders and analysts said on Monday. A government-appointed commission on Saturday proposed to more than halve coal-burning capacity by 2030 and to retire carbon emissions permits in tandem with plant capacity. The proposals require the hard coal and brown coal fired capacity of a total 43 gigawatts (GW) in 2018 to be cut to 17 GW by 2030, with 12.5 GW already closing between 2017 and 2022.
Germany's Economy Minister Peter Altmaier on Monday said that he did not want Germany to compensate for a planned phase out of coal-fired power by 2038 by importing nuclear power from neighbouring countries. Germany's coal commission on Saturday said the country should shut down all of its coal-fired power plants by 2038 at the latest, proposing at least 40 billion euros (£34.60 billion pounds or $45.7 billion) in aid to regions affected by the phase-out.
Germany's ruling coalition is unified on the need to implement the recommendations of a government-appointed commission for exiting coal by 2038, Economy Minister Peter Altmaier told German broadcaster ARD on Sunday. Altmaier, a conservative, said he was in close touch with Finance Minister Olaf Scholz, a Social Democrat, about the issue, and some money had already been earmarked in the 2019 budget to get started with various measures. The government's commission on Saturday proposed shutting down the last of Germany's coal-fired power plants by 2038 at the latest, and providing at least 40 billion euros ($45.7 billion) in aid to regions affected by the phase-out.
German Environment Minister Svenja Schulze said ending the use of coal as an energy source would send a positive signal internationally and need not drive the country's energy prices higher. Schulze told the Funke Mediengruppe newspaper chain she was satisfied with the work of a government-appointed commission which on Saturday proposed shutting down Germany's coal-fired power plants by 2038 at the latest. "I am convinced that a strong industrial country like Germany can master the energy revolution and become stronger and more modern in the process," she added.